▲ Officials work at a dealing room of Hana Bank in Seoul on March 10, 2026. (Yonhap)

Korean currency-volatility

Korean won falls amid oil price volatility as Middle East conflict continues

SEOUL, March 11 (Yonhap) -- The South Korean currency fell slightly against the U.S. dollar Wednesday, following a marked increase the previous day, as heightened market volatility continued amid the Middle East crisis.

The won opened at 1,474 per dollar, down 4.8 won from the previous session.

The foreign exchange market and global oil prices have shown high volatility since last week as the U.S.-Israeli attacks on Iran have escalated tensions across the broader Middle East region.

Global oil prices experienced sharp intraday swings overnight amid mixed messages from U.S. officials about the country's escort of oil tankers through the Strait of Hormuz.

On Monday, the won fell to its lowest level since March 12, 2009, when the country was reeling from the global financial crisis but sharply rebounded the following session after U.S. President Donald Trump hinted that the war could end soon.

The benchmark Korea Composite Stock Price Index (KOSPI) opened 2.28 percent higher at 5,658.72 on Wednesday amid easing risk-off sentiment, as institutional buying offset foreign selling.

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